PaymentsNews

On The Web

nbsp;

Companies

TCH Looks to Connect Thousands of Banks for Real-Time Payments Within the Next Few Months

“The Clearing House Payment Co. Ltd., the New York City-based company that, among other services, operates one of only two switches for the nationwide automated clearing house network, finished the third quarter with 36 institutions linked to its Real Time Payment (RTP) network, which went live a year ago. That number will grow fast, exceeding 1,000 next […]
nbsp; nbsp;

Global

The World Added 15 Real-Time Payments Systems in the Last Year, and 21 More Are Coming

“The world currently has 40 real-time payments systems versus only 25 just a year ago, payment processor Fidelity National Information Services Inc. (FIS) reported Wednesday. What’s more, five such programs are under development, and another 16 should be live in 12 months to 18 months, Jacksonville, Fla.-based FIS says in its new “Flavors of Fast Report […]
nbsp; nbsp; nbsp; nbsp; nbsp;

Systems

The Fed Unveils an Industry Group Charged With Developing Faster Payments

“Following through on plans disclosed earlier this year, the Federal Reserve on Tuesday formally unveiled the U.S. Faster Payments Council, an industry group charged with collaborating to spur the adoption of faster payments and identify market opportunities. The 22 inaugural members range from retailing giant Walmart Inc. to Visa Inc. and Mastercard Inc. to some big banks, tech […]
nbsp;

Systems

As the Fed Mulls an Entry Into Real-Time Payments, a TCH Executive Flashes a Caution Flag

“If the Federal Reserve decides to compete in the developing market for real-time payments, it will face considerable obstacles, one of which has to do with whether such competition is really needed, according to an official with The Clearing House Payments Co. LLC. The Clearing House, which is recruiting financial institutions for its own real-time processing system, […]
nbsp;